Wesel, Germany - Speciality chemicals group Altana AG, which owns polyurethane chemicals supplier BYK Additives and Instruments, has recorded sale of Euro 872.2 million in the nine months to Sep 2009 (Q3), an 18 percent decline compared to the same period last year.
The company's BYK Additive & Instruments division had sales of Euro 311.5 million, down 14 percent from the prior year figures, a 5 Nov statement said.
The company said its programme to cut costs by reducing material and personnel expenses, which began in the summer of 2008, will lead to savings of around Euro 55 million by the end of the year.
"The worldwide economic crisis has confronted Altana with great challenges, which we have successfully met thanks to the joint efforts and commitment of all our employees," said Matthias Wolfgruber, ceo of Altana. "Our business model has proved to be robust in the crisis. However, it will take time, also at Altana, to return to the sales and earnings levels of 2007 and 2008," he added. (RD)